Downward Wage Rigidities and Optimal Monetary Policy in a Monetary Union*

DOI10.1111/j.1467-9442.2010.01627.xzbMath1202.91221OpenAlexW1551672129MaRDI QIDQ3065349

Frank Smets, Stephan Fahr

Publication date: 5 January 2011

Published in: Scandinavian Journal of Economics (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1111/j.1467-9442.2010.01627.x

zbMATH Keywords

non-linear dynamicsasymmetric adjustment costsgrease inflation

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Related Items (2)

Nonlinear and stable perturbation-based approximations ⋮ Revisiting the optimal inflation rate with downward nominal wage rigidity: the role of heterogeneity

Cites Work

• Labor market institutions and inflation volatility in the euro area
• Linear-quadratic approximation of optimal policy problems
• Labour market asymmetries in a monetary union
• Computing second-order-accurate solutions for rational expectation models using linear solution methods
• Asymptotic methods for aggregate growth models
• Price-setting behaviour, competition, and markup shocks in the New Keynesian model
• Calculating and using second-order accurate solutions of discrete time dynamic equilibrium models
• International Risk Sharing and the Transmission of Productivity Shocks
• WELFARE IMPLICATIONS OF HETEROGENEOUS LABOR MARKETS IN A CURRENCY AREA

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